Posted 4/25/2012 03:47 pm
Updated 2 years ago
P.A.M. Transportation Services Inc. said Wednesday that a broadened customer base and newer trucks helped the company turn a profit in the first quarter.
The Tontitown-based carrier reported earnings of $674,193, or 8 cents per share, for the quarter that ended March 31, compared to a loss of $1.98 million, or 21 cents per share, in the same period a year ago.
Revenue rose 13.09 percent to $96.16 million.
Dan Cushman, P.A.M.'s president and CEO, said in a news release the company views the positive results "as additional validation that the initiatives that have been put in place over the last several quarters are continuing to mature and positively impact both top line revenue growth and cost control."
These measures include growth and diversification of the company's customer base; increased efficiency due to information gathered from electronic onboard recorders installed during 2011; and reduction of the average age of the truck fleet from 3.28 years to 2.43 years, Cushman said in the release.
In mid-afternoon trading on the Nasdaq, P.A.M.'s shares were at $11, up 16 cents or 1.48 percent from the previous day's close. Shares have traded between $9.03 and $12.58 in the past year.